Cyprus commercial property includes a various property types. Some of them are evident while the others may not be so well known. Many people who have invested in residential property do not want to invest in commercial property as it seems like a more complicated process. If you make research on commercial property and why it is an attractive investment, you would be more open for commercial property investment! There are three major types of Cyprus commercial property which almost everyone knows:
- retail property: shops and shopping centers;
- office property: offices, office buildings and medical centers;
- industrial property: warehouses, workshops, factories and distribution centres;
Other types of Cyprus commercial property are still well known but possibly not as obvious at first glance:
- petrol stations;
- restaurants;
- hotel and motels;
- parking stations;
- storage facilities;
There are also complex properties that are classified as commercial. This kind of property has more than one use, such as a retail store on the ground floor and a residential apartment on another floor.
Why Cyprus Commercial Property Is An Attractive Investment?
When buying Cyprus commercial property as an investment you have to consider on the income by renting the property and whether the value of the property will increase over time and by how much.
In a well arranged commercial lease the owner can secure:
- fixed terms of tenancy;
- rent review periods;
- basis of review, such as review to market, fixed increases, review to Consumer Price Index, review to an additional, specific percentage, or any combination of the above.
A significant difference that makes Cyprus commercial property a good investment is that the operating expenses are almost always paid by the tenant, as it is written in the lease agreement. Also, as the costs of commercial property maintenance increase, the tenant is usually required to meet these expenses.
By investing in commercial property you have a considerable degree of certainty in regard to the net annual income from the property.
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